Billionaire Jeff Greene’s plans for 30-story towers in Palm Beach are on their way to becoming a reality.
The proposed twin-tower office, hotel and condo complex just north of the Palm Beach County Courthouse was approved by the city’s planning and zoning department. The project, which will be located at 550 Quadrille Boulevard, will go before a city advisory committee on Wednesday, and head to final review by the city commission on Jan. 20.
The towers combined would be between 800,000 to 900,000 square feet. He bought the 3.3-acre site last year for $15 million.
New York architecture firm Cook Fox, which designed the Bank of America Tower at One Bryant Park, a 2.2 million-square-foot, 55-story skyscraper in Manhattan, will design the project.
“At that height, you still get some (water) views,” Greene told the Palm Beach Post. The property’s existing zoning allows for a large condominium that rises 15 stories. This is higher than Boca Raton’s existing cap of 10 stories.
The twin-tower Phillips Point office complex and CityPlace Tower are about nearly 100 percent occupied, and the Esperante office tower is predicted to be fully leased by March. Greene’s attorney predicts the project will cost more than $200 million to design, build and market. [Palm Beach Post] — Kristina Puga